Setel announced today that as of 29 April 2020, it has received approval for its own e-wallet license operating under Setel Ventures Sdn Bhd, from Bank Negara Malaysia (BNM). Effective 2 June 2020, its e-wallet will operate from its own e-money license. Following this, Setel has upgraded the app e-wallet limit, from MYR200 to MYR500.
Previously, the Setel app’s e-wallet utilised KiplePay’s mobile payment system.
With a bigger e-wallet size, it means you’ll need to top up less frequently and not worry about low balance. For added peace of mind, you can set your e-wallet to auto-reload from a binded credit/debit card when the balance drops below a set threshold.
You can also get up to 10 per cent cashback when you top-up your Setel e-wallet through qualified credit cards issued by Ambank, CIMB, Citi, Hong Leong Bank, RHB Bank, and UOB.
Best way to refuel your vehicle
For the uninitiated, Setel is a seamless, frictionless e-payment solution for fuel, first introduced in 2018 at select Petronas stations. It is now available at over 700 Petronas stations across the country.
The app is amazingly simple to use. You can search for the nearest Petronas station to refuel and make your petrol purchase right from the comfort of your car. The app is integrated with Petronas’ Mesra Loyalty rewards system so each fuel purchase will earn you rewards points. Additionally, you can use Mesra points to pay for your fuel purchase, directly from the app.
The app also keeps you informed with weekly fuel price updates.
What’s great about Setel is that unlike paying with a credit or debit card, there is no annoying MYR200 holding fee for paying for fuel.
It is also a completely paperless system where you will get a phone notification and an email of your receipt after each transaction. Also, you will receive monthly statements via email to help you easily track your monthly spending.
Setel is said to be exploring partnerships with manufacturers to integrate the Setel app into a vehicle’s head unit for an enhanced customer experience.
Download and use Setel today
If you haven’t already tried and used this game-changing app, download it for free via the Apple App Store and Google Play.
Use code beu44 when you register to get MYR5 when you complete a petrol purchase of MYR30!
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